As the year wraps up, the real estate market in Northwest Vermont reflects the seasonal slowdown typical of winter, but some trends are worth noting for anyone considering buying or selling a home. December brought changes in prices, inventory, and sales activity that could impact your real estate decisions in 2025. Statistics are for single-family home sales in Grand Isle, Franklin, and Chittenden County.
Median Sales Price
The median sales price in December was $473,500, a 13.9% decrease from November but an 8.2% increase compared to December 2023. For home sellers, this price drop month-over-month highlights the seasonal dip in buyer activity but also demonstrates that home values remain higher year-over-year. If you’re considering selling, this is a great time to start preparing your home to hit the market when buyer activity picks up in the spring. Buyers, on the other hand, may find this seasonal price drop an opportunity to enter the market.
Closed Sales & Days on Market
Closed sales increased to 122, a 4.3% rise from November but a slight 3.2% decline compared to December 2023. Homes also spent an average of 20 days on the market, which represents a 33.3% increase from November and a 42.9% rise year-over-year. Home sellers should be prepared for a longer timeline to sell, especially during the quieter winter months. However, the steady pace of closed sales suggests homebuyers are still active, particularly for well-priced and move-in-ready homes. Buyers can use the longer time on market to evaluate their options more thoroughly, but they should still be ready to act quickly when they find the right property.
List Price Received
On average, sellers received 99.2% of their asking price, a 0.9% decrease from November and a 1.2% decline compared to last year. While slightly lower, this figure indicates that the market remains competitive, with buyers willing to pay close to list prices for desirable homes. Sellers should focus on pricing their homes appropriately to attract serious buyers, while buyers might find more room for negotiation, especially on properties that have been on the market for a longer period.
New Listings & Active Inventory
New listings dropped to 77, a 25.2% decline from November, though they were 16.7% higher than in December 2023. Active inventory decreased to 225 homes, down 18.2% from the previous month but up 22.3% year-over-year. For sellers, the reduced competition of fewer new listings can work in your favor, especially if your home is well-positioned to stand out. For buyers, inventory remains limited compared to earlier in the year, so flexibility and preparedness are key to finding the right home in this constrained market.
Months Supply of Inventory
The months supply of inventory dropped to 1.8 months, a 21.5% decrease from November, but a 26.3% increase compared to December 2023. This metric underscores a continued seller’s market, though the year-over-year increase suggests the market is slowly becoming more balanced. Sellers can still expect strong demand, but they should be prepared for increased competition as inventory trends upward. Buyers should keep in mind that while the market remains tight, the gradual increase in supply could offer more opportunities in the coming months.
Navigating the Northwest Vermont Real Estate Market
Whether you’re buying or selling, understanding the nuances of the local real estate market is essential. Market trends can vary widely from one town or area to another, and having the right strategy can make all the difference.
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If you’re ready to make your move in Vermont’s dynamic real estate market, don’t go it alone. Partnering with a local real estate expert ensures you have the insights and support you need to achieve your goals.
Contact us today for a personalized market analysis and let us guide you through every step of the process. Whether you’re buying your dream home or selling to maximize your investment, we’re here to help you navigate Vermont’s market with confidence.
